swarb.co.uk - law index
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Banking - From: 1999 To: 1999
This page lists 58 cases, and was prepared on 03 April 2018.
Fennoscandia Ltd v Robert Clarke and Another [1999] EWCA Civ 591
18 Jan 1999
CA
Banking
1 Citers
[ Bailii ]
Bankgesellschaft Berlin A G and Others v Philip Makris and Others
22 Jan 1999
ComC
Cresswell J
Banking
ComC Conspiracy to defraud. Breach of fiduciary duty. Tracing. Knowing receipt.
Kenny v Conroy and Another; CA 27-Jan-1999 - Times, 27 January 1999; Gazette, 17 February 1999; [1999] EWCA Civ 639; [1999] 1 WLR 1340
Barclays Bank Plc v John Harold Henson Peter Edward Stapleton Second [1999] EWCA Civ 694
2 Feb 1999
CA
Banking, Insolvency
[ Bailii ]
Barclays Bank Plc v Yehuda Coleman; Miriam Maria Coleman Dixon Emberton and David Spring Parties [1999] EWCA Civ 719
5 Feb 1999
CA
Banking, Undue Influence
1 Citers
[ Bailii ]
Bank of Cyprus (London) Ltd v Markou and Another Gazette, 10 February 1999; [1999] 2 All ER 707; Independent, 08 February 1999
8 Feb 1999
ChD
John Jarvis QC J
Undue Influence, Banking
W, an equal shareholder with her husband and secretary of company was asked by him to sign an unlimited guarantee and charge when the company's bank account moved between branches. She was not given independent advice and took no real part in the company. Held: Undue influence by the husband had been established, and the bank was fixed with notice. The equal shareholding was no complete answer to her claim of manifest disadvantage in the transaction. The bank knew that she took no practical part in the business, and that was enough to put them on enquiry.
The Honourable Society of the Middle Temple v Lloyds Bank plc and Another Times, 08 February 1999; [1999] 1 All ER (Comm) 193
8 Feb 1999
QBD
Rix J
Banking, Agency
Where a cheque marked 'a/c payee only' had been stolen, and an English clearing bank collected it as agent for a foreign bank not acting for the payee, that bank was liable for the misrepresentation involved in the presentation. Where a bank asks its English agent for collection to collect English cheques crossed 'a/c payee' it is impliedly warranting that its customer is entitled to the proceeds. The court drew a distinction between an agent's breach of duty as against his principal and an agent's breach of duty to a third party. Where an agent for a collecting bank was negligent towards a third party payee, he would be indemnified by a collecting bank for any loss caused to a third party as a consequence of performing the collecting bank's request. This was not so where the loss arose from the agent's negligence in the actual performance of the collecting bank's request.
Rix J: "When, however, the cheque emerges from that multitude and is referred by the clerical staff to management, albeit only as a result of an inquiry after fate, it seems to me that different considerations come into play. The cheque is no longer a mere item following a course in a factory-like process. It no longer becomes impracticable to give it individual attention, or the attention of management. It is referred for just such individual attention, even if the cause of referral is something collateral."
Cheques Act 1992
1 Citers
National Westminster Bank Plc v Mohammed Ashraf [1999] EWCA Civ 759
10 Feb 1999
CA
Litigation Practice, Banking
[ Bailii ]
Antoine Goetz and others v Republic of Burundi ARB/95/3
10 Feb 1999
ICSID
Banking, International
[ ICSID ]
Provincial North West Plc v Bennett and Another: Same v Williams and Another Times, 11 February 1999
11 Feb 1999
CA
Banking
Where a loan agreement provided that the interest rate payable was at 3 per cent above base rate, that meant the rate calculated in that manner at that rate above the base rate from time to time, and the rate applied to the account would vary with the base rate. A requirement to give notice of a rate change applied to a change in the differential rate, and not to a change in the underlying base rate..
Mercantile Credit Co Ltd and Another v Fenwick and Others; Same v Speechly Bircham Gazette, 10 March 1999; Times, 23 February 1999; [1999] EWCA Civ 778
12 Feb 1999
CA
Legal Professions, Professional Negligence, Banking
Solicitors retained to obtain signatures to a bank's charge by husband and wife to secure his debts was required to act in accordance with current good practice. No duty to ensure certificate obtained that husband and wife had separate advisers.
[ Bailii ]
Regina v Office of Banking Ombudsman ex parte Woodlands Private Residential Home Limited [1999] EWHC Admin 137
15 Feb 1999
Admn
Banking
[ Bailii ]
Abbey National Plc v Tufts Gazette, 24 February 1999; [1999] EWCA Civ 794
16 Feb 1999
CA
Agency, Undue Influence, Banking, Equity
A bankrupt husband, a mortgage broker, had applied for mortgage for his wife, fraudulently claiming that she had income. She appealed against an order for possession on the basis that he was agent of the bank, and that therefore the bank was fixed with notice of the fraud. She claimed that she had operated under the undue influence of her husband, and that, again, the bank was fixed with notice. That the husband was the agent of the bank was rejected. No equitable right arose because she was herself party to the fraud. The section dealt with issues of title, not lending decision. The appeal was dismissed.
Law of Property Act 1925 199 (1) (ii) (a
1 Cites
[ Bailii ]
Suriya and Douglas (a Firm) v Midland Bank Plc [1999] EWCA Civ 851
24 Feb 1999
CA
Banking
The plaintiff firm of solicitors appealed against a decision refusing its claim for dmages after the defendant, its bankers, had failed to inform them of the existence of an account which would have paid them a higher rate of interest. Held. The appeal failed: "A bank's relationship with a client is not without more one in which duties of disclosure are imposed upon the bank as a matter of general law and there is nothing in the relationship of this particular customer with this particular bank which results in the imposition of such duties. "
[ Bailii ]
Stimpson v Smith; CA 11-Mar-1999 - Times, 22 March 1999; Gazette, 14 April 1999; [1999] EWCA Civ 952; [1999] Ch 340
Raiffeisen Zentralbank Osterreich A G v Crossseas Shipping Ltd and Others [1999] 1 All ER (Comm); [1999] Lloyd's Rep Bank 164; [1999] CLC 973
19 Mar 1999
ComC
Cresswell J
Banking
ComC The rule in Pigot's case. Whether alteration to a guarantee by the insertion of the name and address of a service agent was material so as to render the guarantee unenforceable.
1 Cites
1 Citers
Suriya and Douglas (a Firm) v Midland bank plc Times, 29 March 1999; Gazette, 24 March 1999; Gazette, 27 June 1999
24 Mar 1999
CA
Banking, Consumer
A bank, who brought in a new account paying higher rates of interest, and offering other new facilities, was under no duty to take steps to inform existing customers of the bank with similar and known needs.
Citibank International Plc v Schleider et Al Times, 26 March 1999
26 Mar 1999
ChD
Consumer, Banking
The purpose of the section was to prevent a lender using a second collateral agreement to circumvent the provisions of the Act restricting his freedom to include provisions detrimental to the borrower in the main agreement.
Consumer Credit Act 1974 113(8)
Ebert v Midland Bank Plc and others [1999] EWCA Civ 1106
26 Mar 1999
CA
Banking
[ Bailii ]
Locabail (UK) Ltd and Another v Waldorf Investment Corporation and Others; ChD 31-Mar-1999 - Times, 31 March 1999; Gazette, 19 May 1999
Alliance and Leicester Plc v John Sidney Godolphin [1999] EWCA Civ 1157
14 Apr 1999
CA
Banking, Land
[ Bailii ]
HSBC Gibbs Limited v Graham John Perry T/a Abbey Insurance Consultants (a Firm) [1999] EWCA Civ 1201
19 Apr 1999
CA
Banking
[ Bailii ]
James v Bank of England [1999] EWCA Civ 1217
20 Apr 1999
CA
Banking
[ Bailii ]
Kredietbank Antwerp v Midland Bank Plc v Karaganda Limited v Midland Bank and Midland Bank International Finance Corporation Limited Times, 12 May 1999; [1999] All Er (D) 431; [1999] EWCA Civ 1283
28 Apr 1999
CA
Banking
The Bank refused to pay on letters of credit. They had required production of an original life policy, and been shown the original and a copy. The difficulties in distinguishing the two were not great, and did not justify the refusal to pay. The contract in any event explicitly allowed for a copy to be produced.
Uniform Customs and Practice for Documentary Credits (1993) of the International Chamber of Commerce
[ Bailii ]
Etridge v Pritchard Englefield (Merged With Robert Gore and Co) [1999] EWCA Civ 1273; [1999] EWCA Civ 1280
28 Apr 1999
CA
Land, Equity, Banking, Legal Professions, Undue Influence
[ Bailii ] - [ Bailii ]
Czarnikow-Rionda Sugar Trading Inc v Standard Bank London Ltd and Others [1999] 1 All ER (Comm) 890; [1999] 2 Lloyd's Rep 187; [1999] Lloyd's Rep Bank 197; [1999] CLC 1148; Independent, 14 June 1999
6 May 1999
ComC
Rix J
Banking
ComC Rionda (claimant) obtained ex parte injunction from Tuckey J under the "clear fraud exception" (Edward Owen) to prevent its bank, Standard (first defendant), from paying out under three letters of credit to two Swiss banks (non-parties) who had confirmed the credits and had discounted the deferred payments due under them in part directly to the beneficiary (Vivalet, fifth defendant) and in part under back to credits to the third party suppliers of alcohol. The Swiss banks applied to discharge the injunction inter partes. Held: injunction discharged. (1) Even assuming the clear fraud exception to have been made out, the balance of convenience was in favour of discharge: Harbottle, UTC, GKN applied, Themehelp v West distinguished; (2) Semble, the clear fraud exception does not rest simply on the court's concern to prevent fraud, but on an implied term that a bank will not act in pursuance of a credit if it has not had timely notice of a clear fraud by the beneficiary. Bolivinter, UCM and Deutsche v Walbrook considered; (3) In the present case, it was doubtful whether Rionda was entitled to invoke the fraud exception, since (i) it had not sought to rescind its contracts until after the documents had been negotiated and the goods supplied; and (ii) notice of the fraud had not come to the banks until after the documents had been negotiated and the beneficiary had received the benefit of the transactions; (4) There was misrepresentation of Rionda's financial situation and non-disclosure of the close cooperation, possibly amounting to collusion, between Rionda and Standard.
Turner v Royal Bank of Scotland plc Gazette, 06 May 1999; [2000] BPIR 683
6 May 1999
CA
Chadwick LJ
Banking
The bank replied to several enquiries as to the customer's credit status without first seeking the customer's consent. It claimed that this was general practice at the time. Held: The practice fell short of being 'notorious' or well known, and was a breach of confidentiality.
1 Cites
1 Citers
National Westminster Bank Plc v Story and Another; CA 7-May-1999 - Times, 14 May 1999; Gazette, 19 May 1999; [1999] EWCA Civ 1361; [1999] CCLR 70
National Westminster Bank Plc v Mohammed Ashraf [1999] EWCA Civ 1373
10 May 1999
CA
Banking
[ Bailii ]
Nigel Thomas Simmons v Barclays Bank Plc [1999] EWCA Civ 1383
11 May 1999
CA
Banking
Security for costs against impecunious defendant seeking to appeal.
[ Bailii ]
Yorkshire Bank plc v Lloyds Bank plc; CA 12-May-1999 - Gazette, 27 June 1999; Times, 12 May 1999
Hamlet International Plc (In Administration) v Billyphil Limited and Murgai [1999] EWCA Civ 1404
13 May 1999
CA
Banking
Renewed application for leave to appeal against a finding that the second defendant was liable under a personal guarantee.
[ Bailii ]
Kredietbank Antwerp v Midland Bank Plc, Karaganda Ltd v Midland Bank Plc and Another Gazette, 23 June 1999; [1999] All ER (D) 431; [1999] EWCA Civ 1489
26 May 1999
CA
Banking
The Bank refused to pay on letters of credit. They had required production of an original life policy, and been shown the original and a copy. The difficulties in distinguishing the two were not great, and did not justify the refusal. The contract in any event allowed for a copy to be produced and relied upon.
Nuova Safim Spa In Liquidazione Amministrative v Sakura Bank Limited [1999] EWCA Civ 1510
27 May 1999
CA
Banking
Termination of swap agreement.
[ Bailii ]
Crescent Oil and Shipping Services Ltd v Banco Nacional de Angola and Others Unreported, 28 May 1999
28 May 1999
ComC
Cresswell J
Banking, International
Whether company validly constituted - whether those persons who purported to act on behalf of the company authorised to do so - whether valid service within the jurisdiction- whether garnishee orders nisi should be set aside - sovereign immunity - the position of general banks - abuse of the process -forgery of documents.
Wahda Bank v Arab Bank Plc [1999] EWCA Civ 1599
16 Jun 1999
CA
Banking
[ Bailii ]
Securum Finance Ltd v Ashton and Another Gazette, 30 June 1999; Times, 18 June 1999
18 Jun 1999
ChD
Banking, Limitation
The fact that earlier proceedings under a mortgage to recover the debt as a simple contract debt had been dismissed for want of prosecution, did not prevent the mortgagee later proceeding under the mortgage as a specialty debt.
Limitation Act 1980
1 Cites
1 Citers
Melvin International SA v Poseidon Schiffahrt GmbH [1999] 2 All ER (Comm) 761; [1999] 2 Lloyd's Rep 374; [1999] CLC 1398
18 Jun 1999
ComC
Cresswell J
Banking, Transport
ComC Guarantee - guarantor not exempted from liability "...by any variation in the terms of the ...2 underlying charterparty - whether addenda to charterparty a "variation" - the relevant legal principles - the general purview of the guarantee.
1 Cites
1 Citers
Elli Christofi v Barclays Bank Plc Times, 01 July 1999; Gazette, 21 July 1999; [1999] EWCA Civ 1695
28 Jun 1999
CA
Banking
A bank is under no obligation of confidence to its customer so as to prevent it disclosing to another party a fact which was ascertainable from inspection of public registers, namely in this case that a caution against registration having been warned off had subsequently been removed.
1 Cites
[ Bailii ]
Banco Santander Sa v Bayfern Ltd and Others; ComC 29-Jun-1999 - Times, 29 June 1999; Gazette, 30 June 1999; [1999] EWHC 284 (Comm)
Frost v James Finlay Bank Limited [1999] EWCA Civ 1789
8 Jul 1999
CA
Banking, Professional Negligence
[ Bailii ]
Dempsey v National Westminster Bank Plc [1999] EWCA Civ 1853
15 Jul 1999
CA
Banking, Professional Negligence
Application for permission to appeal out of time.
[ Bailii ]
Watt or Forsyth (Assisted Person) v the Royal Bank of Scotland Plc [1999] ScotCS 181; 2000 SLT 1295
26 Jul 1999
SCS
Lord Macfadyen
Scotland, Banking
It appeared to the creditor that the wife had already had the benefit of professional legal advice, and it did not recommend that she should seek independent legal advice.
1 Citers
[ Bailii ] - [ ScotC ]
Jyske Bank (Gibraltar) Limited v Spjeldnaes; Metcalf; Zoltan-Frank; Jacobsen; Gould; Bullen; Juillet Limited; Recolte Investments Limited; Fondconsult Ltd etc [1999] EWCA Civ 2018
29 Jul 1999
CA
Lord Justice Nourse Lord Justice Sedley And Mr Justice Colman
Trusts, Banking
[ Bailii ]
Bank of Baroda v Dilip Shah [1999] EWCA Civ 2036
30 Jul 1999
CA
Banking
Release of guarantee.
[ Bailii ]
Director General of Fair Trading v First National Bank Plc [1999] EWHC Ch 206; [2000] 1 WLR 98
30 Jul 1999
ChD
Evans-Lombe J
Banking, Consumer
The claimants sought an injunction under the regulations to prevent the defendant bank from including in any of its agreements a clause allowing them to claim interest on judgments on regulated agreements.
Unfair Terms in Consumer Contract Regulations 1994 - Consumer Credit Act 1974
1 Citers
[ Bailii ]
American Express Services Europe Limited v Tuvyahu [1999] EWCA Civ 2087
18 Aug 1999
CA
Banking
[ Bailii ]
Director General of Fair Trading v First National Bank Plc; CA 15-Sep-1999 - Times, 21 September 1999; Gazette, 15 September 1999; Gazette, 17 February 2000; Times, 14 March 2000; [2000] EWCA Civ 27; [2000] QB 672
Barclays Bank Plc v Boulter and Another; HL 26-Oct-1999 - Times, 26 October 1999; Gazette, 03 November 1999; [1999] UKHL 39; [1999] 4 All ER 513
Kenneth Starling v Lloyds TSB Bank plc Times, 12 November 1999; Gazette, 10 November 1999
10 Nov 1999
CA
29 October 1999
Banking, Land
The setting aside of the statutory power of a mortgagor in possession to grant a lease, by the mortgage itself did not create in the lender a duty of good faith properly to consider a request from the mortgagor for permission to let the property. It was wrong to attempt to import such a duty from a very different area of law.
Law of Property Act 1925 99
1 Cites
1 Citers
In Re ASRS Establishment Ltd (In Administrative Receivership and Liquidation); ChD 17-Nov-1999 - Times, 17 November 1999
Coutts and Co v Stock Times, 30 November 1999; Gazette, 17 December 1999; [1999] EWHC Ch 191; [2000] 1 WLR 906
24 Nov 1999
ChD
Lightman J
Company, Insolvency, Banking
Where an ailing company continued to trade, section 127 operated as between the company and its directors and creditors, and not so as to invalidate payments made by the company's bank on cheques drawn before the date of presentation of the petition, and honoured before the date of the winding up order. Accordingly when an overdraft arose as a result of such payments, a person guaranteeing the company's overdraft remained liable for the result.
The acts of a Bank in honouring cheques drawn on an insolvent company's overdrawn account were a loan by the Bank to the company, but not a disposition of the company's property. Section 127 "does not invalidate a company's assumption of liabilities".
Insolvency Act 1986 127
[ Bailii ]
Arab Bank Plc v John D Wood Commercial Ltd (In Liquidation) and others Times, 25 November 1999; Gazette, 08 December 1999; [2000] 1 WLR 857
25 Nov 1999
CA
Mance L.J
Damages, Insurance, Banking
Having once recovered damages against a valuer for a negligent survey, there was nothing to stop a lender recovering also under a policy of insurance under a mortgage indemnity guarantee, and so the lender was not required to give credit for monies already received. Such policies were taken out for the benefit of the lender not the borrower, and the insurance company being subrogated to the lender, no double recovery was involved.
1 Citers
Price Meats Ltd v Barclays Bank Plc Times, 19 January 2000; [1999] EWHC Ch 190
30 Nov 1999
ChD
Banking, Consumer
Although a customer always had a clear duty to inform its bankers of any forgery of which it was aware insofar as it related to dealings with the bank, that duty did not operate when the knowledge of the customer was only constructive and not actual. In this case the bank had become concerned and had warned the customer of the need to enquire as to the history of transactions, but such warning did not create an actual knowledge on the customers part of the reality of forgery eventually discovered.
[ Bailii ]
Arklow Investments Ltd and Another v I D Maclean and Others (Appeal No 17 of 1999); [1999] UKPC 51; [2000] 1 WLR 594
1 Dec 1999
PC
Lord Steyn, Lord Lloyd of Berwick, Lord Hobhouse of Woodborough, Sir Andrew Leggatt, Mr. Justice Henry
Commonwealth, Intellectual Property, Equity, Banking
PC (New Zealand) Land was offered for sale. A potential buyer, the appellant was approached by a merchant bank with a proposal for finance. When he sought finance elsewhere, a company associated with the bank bought the land instead. The appellant complained that the information acquired by the bank on his behalf was confidential to him, and that the bank had acted in breach of its duty of confidence to him. He also claimed a breach of a duty of loyalty. Held: A duty of loyalty arises when a relationship gives rise to a legitimate expectation, which equity will recognise, that the fiduciary will not utilise his or her position in a way which is adverse to the interests of the principal. The court was unable to see an evidential basis for finding that a relationship of trust and confidence, in this sense of undertaking an obligation of loyalty, arose in this case. The claimant did not accept the proposal, and so no relationship arose. Characterising the duty to respect confidential information as fiduciary does not create particular duties of loyalty which are imposed as a result of the nature of the particular relationship and the circumstances giving rise to it. It is not the label which defines the duty. Though the defendant had acquired confidential information there was insufficient evidence that that information had been misused, or that the claimant had suffered any loss as a result directly of such use. Some of the information for which confidence was claimed was not capable of being confidential.
1 Cites
1 Citers
[ Bailii ] - [ PC ] - [ PC ]
Hollicourt (Contracts) Ltd (In Liquidation) v Bank of Ireland Times, 30 November 1999; Gazette, 17 December 1999
17 Dec 1999
ChD
Company, Insolvency, Banking
A company's account was in credit at all times, but was, unknown to the bank, in winding up proceedings. The bank continued to honour cheques, and was found to have been making dispositions of the company's assets under the section. Accordingly the payments were void and ineffective from the date of the commencement of the winding up.
Insolvency Act 1986 127
1 Cites
1 Citers
Shanning International Ltd v Lloyds TSB Bank plc; Lloyds TSB Bank plc v Rasheed Bank and another Times, 19 January 2000; [1999] EWHC 280 (Comm)
17 Dec 1999
ComC
Langley J
Banking, European
The parties were linked together by a series of bonds, deposits, and guarantees and indemnities which had been designed to enable trade with a customer in Iraq. The Regulation operated to prevent any claim being made under the bond, and therefore the bank could not resist an action for the repayment of a deposit on the basis that it might be called upon under its own bond.
Regulation (EEC) No 3541/92
1 Citers
[ Bailii ]
Smith and another v Lloyds TSB Group plc Times, 23 December 1999
23 Dec 1999
QBD
Banking, Torts - Other
A cheque was altered and presented and paid through an account operated by the defendants. The claimants asserted that the collecting bank had converted the cheque and were liable to repay its value. The cheque having been fraudulently altered, it was held that it had, under the Act, ceased to be a cheque as such, it became avoided, and neither collecting nor paying bank were liable for its face value in conversion.
Bills of Exchange Act 1882 64 - Cheques Act 1957 4